October 28, 2013 / 12:54 PM / 4 years ago

Petrobras says Libra field costs will not delay other projects

RIO DE JANEIRO, Oct 28 (Reuters) - The cost of developing the giant offshore Libra oil field will not delay other projects in the portfolio of Brazil’s state-run oil company Petroleo Brasileiro SA, Director of Exploration José Formigli Filho said on a phone conference on Monday.

Since Petrobras took a 40 percent stake in Libra, it has faced concern that development costs of about $100 billion over 30 years might strain a company with rising debt and an already huge $237 billion five-year investment plan.

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